Right on, the coal did not live up to its specifications. I can’t quite remember the details but there was a band of low grade material in between two layers of coal or something like that and they couldn’t figure out how to get the better quality stuff out without it getting contaminated with the rubbish stuff, and also the forecasts of how much coal was in the mine appeared to be way out as well.

Brilliant news, fantastic stuff. Now let’s knock the top off the hill, bring the boys out and export 7 billion dollars of coal.

Yes, let’s spend $10-20 billion to export $7billion in coal.

There was never a business case for an open cut mine at Pike River, conservation land or not. To be honest, there probably wasn’t a case for an underground mine either – they never did get around to making money for the shareholders.
Now the government has given Solid Energy a big liability just before they sell part of it – pretty cunning if you ask me. I wouldn’t touch the shares with a barge pole.

The Mixed Ownership Model would apply to four energy companies, with Mighty River Power the first to be floated for sale in the third quarter of this year, as long as market conditions permitted. Solid Energy, Meridian Energy and Genesis would follow.

Will all share holders in Solid Energy get even dividends and pay for body recovery or just those holding 51%

How much more would the receivers have made on the sale if the damned fool commitment to recover bodies had NOT been included?

]]>By: Barnsley Billhttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942537
Fri, 09 Mar 2012 05:16:06 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942537With the traveling trough pig from te atatu and the baby killer out of the way it should be possible to open cast it now.
]]>By: Bevanhttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942526
Fri, 09 Mar 2012 04:53:17 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942526The Government had said it would make recover of the bodies a condition of transferring the mining licence, so this may be why other parties did not bid for the mine in the end.

But its good business sense to buy assets that make the country money wouldn’t you think?

]]>By: Pongohttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942516
Fri, 09 Mar 2012 04:32:09 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942516Brilliant news, fantastic stuff. Now let’s knock the top off the hill, bring the boys out and export 7 billion dollars of coal.
]]>By: dimehttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942505
Fri, 09 Mar 2012 04:17:08 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942505looking forward to the time when we no longer have to hear from the families. they are a pain in the ass.

yesterday on radio live i heard a headline “blah blah whos son died at pike river was made redundant today” ffs. we get it. people died. very sad. but for the love of god just shut up

]]>By: Nostalgia-NZhttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942503
Fri, 09 Mar 2012 04:12:43 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942503Time will tell, probably by the time of the 6 oclock news what the families will say. I suspect they’ll feel they’ve been lied to and shafted.
]]>By: KiwiGreghttp://www.kiwiblog.co.nz/2012/03/pike_river_sold.html/comment-page-1#comment-942473
Fri, 09 Mar 2012 03:17:24 +0000http://www.kiwiblog.co.nz/?p=60699#comment-942473Yay, the state buying more assets. The Nationalisation government rolls on.
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